SANTO DOMINGO.- The nonfinancial public sector’s (NFPS) total public debt received by the new administration totals US$17.6 billion as of July 31, accounting for 30.8% of gross domestic product (GDP) nominal estimate for this year by the Finance Ministry’s Fiscal Policy Unit, of RD$22.0 billion (US$57.3 billion).
A report by the Finance Ministry’s Public Credit Directorate cited by diariolibre.com says the NFPS debt balance consists of 71.4% in foreign debt, or an outstanding balance (part of the debt that has not been covered) of $US12.6 billion.
While the remaining 28.6% corresponds to domestic debt, which totaled RD$197.1 billion (US$50.4 billion) at the exchange rate of RD$39.09/ US$1.0. These figures represent 22.0% of external debt and 8.8% of estimated GDP domestic debt respectively.
Of the total domestic debt around US$2.2 billion (3.8% of GDP) is intra-government debt (owed by one government agency to another), such as bonds issued by the Executive Branch to capitalize and recapitalize the Central Bank.